SoftBank Q3 earnings recovery seen driven by IPO boom

SoftBank Group Corp is expected to extend earnings recovery when it reports third quarter results as frothy markets drive a rally in the value of its tech investment portfolio and offer fertile ground for listings.

The Japanese conglomerate is seen posting a net profit of 171 billion yen ($1.63 billion) in the October-December quarter, according to an average estimate of four analysts polled by Refinitiv SmartEstimate.

That compares with net profit attributable to shareholders of 55 billion yen in the same period a year earlier, when operating profit was almost wiped out as the $100 billion Vision Fund plunged to a loss on investments like office sharing firm WeWork.